NEIGHBORHOOD STABILIZATION PROGRAM (NSP)
The federally funded Neighborhood Stabilization Program is administered by the City of Fresno's Housing and Community Development Division in joint partnership with the City's Budget Division. The City has contracted with four local developers/agencies to carry out the goals of the City for the NSP. The four agencies are Coalition for Urban Renewal Excellence (CURE), the Housing Authorities of the City of Fresno, the Fresno Redevelopment Agency (RDA) and 2M Development Corporation. Currently, the four agencies are purchasing, rehabilitating and re-selling homes for eligible homebuyers. NSP funded homes will always be listed on the Fresno Multiple Listing Service (MLS) as soon as they are available for re-sale to a future homebuyer. Homes will be sold for the listing price as this price already provides for incentives to the purchaser beyond a negotiated price.
For additional information please contact Erica Castaneda at (559) 621-8514.NSP PUBLIC NOTICES
Substantial Amendment No. 2 - To the FY 2011 Annual Action Plan and Substantial Amendment No. 3 - To the FY 2010 Annual Action Plan
Click here to view the Neighborhood Stabilization Progam Amendments
Currently, the four agencies are purchasing, rehabilitating and re-selling homes for eligible homebuyers. NSP funded homes will always be listed on the Fresno Multiple Listing Service (MLS) as soon as they are available for re-sale to a future homebuyer. Homes will be sold for the listing price as this price already provides for incentives to the purchaser beyond a negotiated price.
If you would like to get more information in regards to purchasing a NSP home, and general qualification guidelines, please review the one page sheet below.
NSP Homebuyer Information
CalHome Mortgage Assistance Program Guidelines
*Update: As of 5/12/11, we can no longer offer silent seconds to buyers earning more than 80% of the AMI. The availability of silent second funding is restricted by the availability of program income.
If you would like to contact a participating lender to get started in the process towards buying an NSP home, please contact a City of Fresno Participating Lender from the following list:
NSP Participating Lender List
(*note: if you are already working with a lender who is not on the NSP list, you can contact your lender to have them become an NSP approved lender)
If you are a lender and would like to participate in the City program, please review the lender fact sheet below. If you lending agency would like to participate in the City's NSP, you will have to fill out and sign the Letter of Participation, and return to the City. This information is also useful if you are a realtor, and your client would like to purchase an NSP home.
Lender Fact Sheet
Lender Letter of Participation
To contact the developer/agencies to get more information on the specific homes they have purchased for re-sale, please see the contact information below.
Director: Nathan Magsig - (559) 431-3545
Realtor: Ken Neufeld, London Properties - (559) 436-4057
2M Development Corporation
Owner: Gary Mason - (559) 322-5030
Realtors: John Miller, Guarantee Realty - (559) 650-6190; and Ken Neufeld, London Properties - (559) 436-4057
Contact: (559) 621-7600
Community Development Coordinator: Laurie Psenner
Contact: (559) 445-8902
Housing Authority Hotline: (559) 441-2301